|
Indian family-owned businesses are entering the coming years with strong confidence and ambitious expansion plans, even as they remain cautious in adopting new technologies, according to a survey report by PwC.
The survey highlights that Indian family businesses are more optimistic about growth compared to their global peers and are relatively resilient to global megatrends. However, the report also shared the need for these businesses to step up investments in technology and use it more effectively as a competitive advantage. According to the findings, Indian family businesses are set to enter the next decade with one of the strongest growth outlooks globally. It stated, "Indian family businesses will enter the next decade with one of the strongest growth outlooks globally. 55 per cent of Indian respondents expect significant expansion in the next two years; the global sentiment, in contrast, is much more cautious at only 16 per cent". Confidence levels among Indian family businesses are also notably higher. About 91 per cent of Indian respondents said they are confident about their company's growth prospects, compared with 73 per cent globally. This positions India among the most forward-looking family business markets in the world. On the technology front, the survey showed mixed signals. While 39 per cent of Indian family businesses have prioritised digital transformation and artificial intelligence, compared with 24 per cent globally, actual adoption remains cautious. Around 24 per cent of Indian family businesses classify themselves as selective or cautious adopters of technology, significantly higher than the global average of 8 per cent. The report also pointed to key inflexion areas that Indian family businesses must address as they grow. These include the transition from basic digitisation to intelligence-led decision-making, strengthening governance structures, improving succession planning, and enhancing risk preparedness. Purpose and values continue to play a central role, acting as anchors that shape trust, reputation, and decision-making during periods of change. One of the key findings of the survey is the emergence of family capital as a strategic advantage. The report noted that patient, family-owned capital continues to differentiate Indian enterprises by enabling long-term decision-making, resilience during volatile periods, and sustained investment across business cycles. Despite the strong optimism, the report also flagged important structural priorities. Succession planning, board diversity, and governance modernisation require urgent attention, especially as family businesses expand across sectors and geographies. According to the survey, enterprises that institutionalise governance, codify their values, and prepare the next generation of leaders will be best positioned to sustain growth over the coming decade. Overall, the PwC survey paints a picture of confident and resilient Indian family businesses, while also highlighting the need for deeper reforms in technology adoption and governance to support long-term growth. (ANI)
|
